Strategic financial planning

The world’s leading payment technology firm Visa is committed to helping Vietnam become a cashless society. Dang Tuyet Dung, newly-appointed country manager for Visa Vietnam and Laos, shared with VIR’s Nam Phuong the firm’s plans to contribute to accelerating the growth of electronic payments and the digital economy in Vietnam. Dang Tuyet Dung, newly-appointed country manager for Visa Vietnam and Laos Prior to Visa, you worked for 25 years at leading ­international and local banks. How does this background help you with your current leadership position at Visa? Such a long relationship with the banking industry ­really gives me a deep and practical view of bank client ­requirements and how those link with the overall banking strategy across corporate and retails segments. Joining Visa was a great opportunity for me to learn more of the leading technologies and digital ­solutions, and I see huge ­potential of how Visa can work even … [Read more...] about Visa supports financial inclusion in Vietnam

Recalling our commitment to fostering friendly relations, mutually beneficial cooperation and good neighbourliness between ASEAN and China, under the Joint Declaration of the Heads of State/Government of ASEAN and the People's Republic of China on Strategic Partnership for Peace and Prosperity signed on 8 October 2003 in Indonesia, and the Joint Statement of the 16th ASEAN-China Summit on the Commemoration of the 10th Anniversary of the ASEAN-China Strategic Partnership adopted on 9 October 2013 in Brunei Darussalam; Recognising that over the past fifteen years, the ASEAN-China Strategic Partnership has contributed significantly to regional peace, stability and prosperity, and expanded the broad cooperation agenda between ASEAN and China, thereby strengthening ASEAN-China relations which are among the most substantial, dynamic and mutually beneficial relationships; Recognising that ASEAN-China relations have entered into a new era with the realisation of the ASEAN … [Read more...] about ASEAN, China adopt strategic partnership vision 2030

Speaking at the AFMM-22, Vietnamese Deputy Minister of Finance Tran Xuan Ha described modern and effective infrastructure development as one of the important pillars for Vietnam’s socio-economic development, which is also a common concern of regional countries. Thereby, the regional nations need to build a common plan to devise proper financial solutions, he said.The finance ministers lauded ASEAN’s progress in banking integration, insurance, capital market and wished that member states will sign the eighth Package of Commitments later this year.The meeting took note of efforts to develop the regional capital market by strengthening capacity and carrying out initiatives such as amending the ASEAN Collective Investment Scheme, issuing ASEAN Green Bond standards, piloting the connectivity of securities markets, opening a portal on listed companies in ASEAN and rotating capital market experts among regional countries.Vietnamese Deputy Minister of Finance Tran Xuan Ha (Source: … [Read more...] about ASEAN targets sustainable economic growth, financial stability

A sea expansion project is planned for Đà Nẵng Bay. The central city aims to build an ’urban area in the sea’ for its growing population. — VNS Photo Công Thành Viet Nam News ĐÀ NẴNG — The central city of Đà Nẵng has asked the government to plan part of Đà Nẵng Bay as an ‘urban area in the sea’, in an effort to meet the demands of a rising population and to attract tourism investment. Director of the city’s construction department, Vũ Quang Hùng, said a new urban area for a population of one million would be based on an area of 500ha in Đà Nẵng Bay, which is situated in Liên Chiểu and Thanh Khê districts. Hùng said the new ‘urban area’ will be developed as a ‘super city’ in the sea with unique designs and architecture for luxury accommodation and a regional financial centre. He said the urban area … [Read more...] about Central city plans ‘urban area in the sea’

The industry-real estate-finance conglomerate T&T Group now has the highest chance to become the strategic partner of Viet Nam Southern Food Corporation (Vinafood 2), cafef.vn reported on Wednesday. Vinafood 2 plans to offer 25 per cent of its charter capital, or 125 million shares, to the strategic investor after the company launches its initial public offering (IPO) on March 14. As the price of shares offered to the strategic investor is expected to stay at least level to the IPO starting price of VND10,100 (45 US cents) per share, T&T Group may have to pay at least VND1.26 trillion ($56 million) to purchase those 125 million shares. Vinafood 2 had only received the filed proposal from T&T Group by December 15, 2017, on which Vinafood 2 must finalise its equitisation plan and submit the plan to the Ministry of Agriculture and Rural Development, the business news website reported. Local media had previously reported that T&T Group and the … [Read more...] about TT Group to become Vinafood 2’s strategic partner

A rice stock owned by a subsidiary of Vinafood 2 in Tra On District of the southern province of Vinh Long. — VNA/VNS Photo Dinh Hue The Ministry of Agriculture and Rural Development has approved a new set of criteria to select strategic investors for the Viet Nam Southern Food Corporation (Vinafood 2). These requirements are more relaxed than those proposed by the corporation earlier. Specifically, strategic investors must have a minimum charter capital of VND2.5 trillion (US$110 million) in 2016 and record positive after-tax profits in three consecutive years from 2014-16, with no accumulated losses until December 31, 2016. The earlier proposal by Vinafood 2 stipulated strategic investors to have total assets worth at least VND10 trillion by December 31, 2015, as stated in their audited financial report, a minimum charter capital of VND3.5 trillion and positive after-tax profits in three consecutive years, with no accumulated losses by the end of 2015. Besides this, the … [Read more...] about Criteria relaxed for Vinafood 2’s strategic investor selection

By Anh Minh &nbspFebruary 1, 2018 | 05:14 pm GMT+7 Carlsberg is holding 17.5 percent stake at Habeco. Photo by Reuters The government is negotiating the deal with Carlsberg, but wants to retain a majority stake to hold veto power. Vietnam's government is preparing to sell more shares in the country’s third largest beer company Habeco, but is unwilling to give up its majority stake just yet. Cao Quoc Hung, vice Minister of Industry and Trade, said it is planning to sell less than 5 percent of its share in the company, known officially as Hanoi Beer Alcohol and Beverage Joint Stock Corp. The ministry is negotiating the sale with Carlsberg, a strategic partner that currently holds a 17.5 percent stake in the firm. The Danish brewer has been discussing its priority purchasing rights with the Vietnamese government for years. Deputy Prime Minister Vuong Dinh Hue said that Carlsberg supports the idea of Vietnam's government retaining 36 percent of Habeco to … [Read more...] about Vietnam plans minor stake sale in country’s third largest beer firm

Reclaiming the crownIn recent months, stocks of Vietnamese banks have earned significant attention thanks to their renewed appeal with foreign investors.Most recently, Ho Chi Minh Development Bank – HDBank – raised $300 million from international investors, after selling shares to existing investors through the book-building method.The $300 million HDBank deal was the second-largest ever in the Vietnamese banking sector, just below Vietcombank’s $460 million deal in 2007. The number of registered purchases tripled the amount of shares on offer, similar to the heavily-subscribed deal of VPBank last May. Following the share sale, HDBank made its debut on the Ho Chi Minh Stock Exchange last Friday, hitting the price ceiling on the first trading day.Late last year, the Holland-based PYN Elite Fund spent $40 million on 4.99 per cent of TPBank’s shares, making its first foray into the domestic banking sector. Last October, Vietnam Opportunity Fund (VOF), managed … [Read more...] about Domestic lenders reclaim financial trust

The government has just proposed major measures to facilitate socioeconomic development in 2018, including the implementation of three strategic breakthroughs and facilitating the country’s progress in Industry 4.0. three strategic breakthroughs for socioeconomic development in 2018 hinh 0 On January 1, 2018, the government issued Resolution No.01/NQ-CP on major tasks and solutions guiding the implementation of the 2018 socioeconomic development plan and the state budget estimate. To implement these measures successfully, the government set out the slogan “Discipline, integrity, action, creativity, efficiency.” The directions will focus on strengthening macroeconomic stability, implementing strategic breakthroughs effectively and practically, and restructuring the economy in line with innovating the country’s growth model. Additionally, they will target improving productivity, quality, efficiency, and competitiveness. Moreover, innovation, startups, enterprise … [Read more...] about Three strategic breakthroughs for VN socioeconomic development in 2018

The Hanoitimes - The Ministry of Transport has submitted to the government the equitization plan for Vietnam National Shipping Lines (Vinalines), for which the government currently holds 65% of the chartered capital. According to this plan, the Ministry of Transport decided to divest state fund from Vinalines in parallel with issuing stakes to increase chartered capital. Specifically, Vinalines will increase its chartered capital to 14 trillion VND or 616 million USD (equivalent to 1.4 billion shares with 10,000 VND per share) after completing the equitization process, in which the government owns 904.5 million shares, equivalent to 65% of the company’s chartered capital. Vinalines will sell 30% of its chartered capital to strategic investors. In addition to the preferred shares sold to employees (0.13% of chartered capital), Vinalines will sell 30% of its chartered capital to strategic investors. The remaining shares of 67.3 million shares, equivalent to 4.84% of … [Read more...] about Vinalines to sell 30% shares to strategic investors